7 bedroom block of apartments for sale

>

7 bedroom block of apartments for sale

Marina, Bexhill On Sea, East Sussex, TN40
£900,000

Our Summary

  • We are pleased to offer to auction this entire freehold block which comprises a ground-floor restaurant area of approximately 250m², with three self-contained flats across two upper floors
  • We believe these rents are significantly below market value, with potential to achieve £900 to £1,000 pcm
  • Auction Terms This property is being sold subject to unconditional reservation fee auction terms and conditions
  • Auction terms

Description

This property is a freehold block comprising a ground-floor restaurant area and three self-contained flats across two upper floors. The restaurant area is currently vacant, but was previously leased for £30,000 per annum, while the three flats are let under Assured Shorthold Tenancy agreements at significantly below market value, with potential to achieve £900-£1,000 per month. The flats are 2-bedroom and 3-bedroom, with approximate sizes of 70m² and 80m², respectively. The property is being sold subject to unconditional reservation fee auction terms and conditions, with contracts exchanging immediately and a 28-day completion period. A deposit of 5% is required, which is non-refundable, and a non-refundable reservation fee of 5% + VAT (£6,000 inc VAT) is also payable.